Explanation:

Bt cotton is the only transgenic crop that has been approved by the Government of India for commercial cultivation. 

• Bt cotton has been genetically modified (GM) to produce an insecticide to combat the cotton bollworm, a common pest. 
• The Herbicide Tolerant Bt (HTBt) Cotton is another variant which provides one more layer of modification making the plant resistant to the herbicide glyphosate. However, it has not been approved by regulators yet.

Hence only statement 1st is correct.